The Most Common Accounting Mistakes Small Business Owners Make and How to Avoid Them
Most small business owners are an expert in their field, but not necessarily in the accounting aspects of building a business. And, with this comes a few common mistakes. Yet, even simple small business accounting mistakes can prove to be financially limiting and costly down the road. With the help of an accounting professional, it…
Innovation in a Family Business
As new products, consumer trends, economies, and business models emerge, it is important for family business owners to adapt and be open to change. This articles discusses why family businesses must innovate and create initiatives that keep up with changing times. To view this article, click the following link to access the original content. https://www.nst.com.my/opinion/columnists/2018/07/389528/innovation-and-family-firms
Is an Inheritance Taxable?
A frequent question is whether inheritances are taxable. This is a frequently misunderstood question related to taxation and can be complicated. When someone passes away, all of their assets will be subject to inheritance taxation, and whatever is left over after paying the inheritance tax passes to the decedent’s beneficiaries. Sound bleak? Don’t worry, very…
Productivity for Small Business Owners
As a small business owner, you are undoubtedly faced with a hectic schedule that leaves you minimal free time. This articles discusses productivity and time management tips you can use to help you fit more into an already crazy schedule. To view this article, click the following link to access the original content. https://www.forbes.com/sites/theyec/2018/07/05/four-productivity-tips-for-small-business-owners/#748a98137bd9
Credit for Family and Medical Leave Benefits
The Tax Cuts and Jobs Act that was passed last year included a new tax credit for employers that allows them to claim a credit based on wages paid to qualifying employees while they are on family and medical leave. To qualify for the credit, an employer must have a written policy that provides at…
Retirement Tips for Business Owners
Business owners can proactively plan for their retirement all while growing their business. This articles discusses three tips you should consider when creating a retirement strategy and planning for the future of your business. To view this article, click the following link to access the original content. https://www.business.com/articles/smb-owner-retirement-tips/
Is a Roth Conversion Right for You? But Be Careful, They Can No Longer Be Undone!
Roth IRA accounts provide the benefits of tax-free accumulation and, once you reach retirement age, tax-free distributions. This is the reason why so many taxpayers are converting their traditional IRA account to a Roth IRA. However, to do so, you must generally pay tax on the converted amount. After making a conversion, your circumstances may…
The Must-Have Discussion in Your Family Business
Although unpleasant, discussing your family business’ short term succession planning is crucial. This article discusses why family businesses should talk about and plan for the unexpected. To view this article, click the following link to access the original content. https://www.usatoday.com/story/money/personalfinance/lifestages/2018/06/10/every-family-business-needs-to-have-this-discussion/35532513/